Hearsay Social Wants to Help Advisors Predict Client Behavior

The Predictive Social Suite will monitor social media and other channels for "signals" of events in clients' lives that often lead to buying decisions.

By Melanie Waddell|February 19, 2015 at 08:05 AM

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Image via Hearsay Social.

Hearsay Social launched Thursday a “Predictive Social Suite” for advisors to help them not only stay connected with clients over various social media channels but to ensure they can better serve clients’ and prospective clients’ needs by monitoring their social media and online behavior “signals.”

“With nearly 2 billion people on social media and over 3 billion people on the Internet accessing and sharing information today, people are also broadcasting and sharing ‘life events’ such as engagements, births, marriages and home purchases across those channels,” says Gary Liu, Hearsay’s VP of marketing.

The Predictive Social Suite provides advisors “with notifications based on these ‘signals’ and the information shared by their customer connections and activities across social media and other digital channels including an advisor website.”

Liu explains that by analyzing these cross-channel signals, “advisors can reach out to those specific individuals at the right time with the right message while maintaining compliance with corporate policy and regulations,” enabling advisors to provide “better, personalized service to their clients and prospective clients while deepening those relationships.”

The suite is built on the Hearsay Enterprise Platform “that enables advisors to ‘hear’ and ‘say’ from a centralized advisor dashboard,” Liu explains.

“The ‘hear’ component provides advisors cross-channel signals and notifications based on a client’s activities across social networks, an advisor’s website and other interactive digital channels, thereby providing deeper insights to best serve that client,” he says.

“The ‘say’ component allows advisors to share and publish timely and relevant content from the Hearsay Content Library across those same channels to reach their local audience and stay top of mind.”

Hearsay says that at the “forefront” of the Social Suite is Hearsay Sites, a responsive, mobile-first website solution for advisors and agents, which allows them “to easily post tailored content to their websites in real time from the same unified Hearsay Social dashboard they currently use to manage social media engagement.”

The goal of Hearsay Sites, the company says, “is to provide intelligent Web analytics that notify advisors of website visitors and of which product or services are likely of interest based on how a client engages with content on the site.”

Hearsay Sites also comes with built in search engine optimization (SEO) and profile management integrated with enterprise compliance, the company says.

Clara Shih, Hearsay’s founder and CEO, said in a statement that more than 100,000 advisors already enabled by Hearsay Social’s flagship social media solution told the company that “social is essential, but the social channel alone is not enough to keep pace with today’s multichannel customer.”

Hearsay, she says, “will continue to double down on our core social offering while expanding to offer a complete suite of technologies to help relationship managers compete and win against the onslaught of disruptive technologies.”

Social, mobile and Web are “now ubiquitous,” Shih says, and “consumers increasingly rely on these digital engagement channels to discover and make buying decisions regarding financial products and services.”

She cites data showing that more than 40% of high-net-worth individuals under 40 cite social media as important for accessing information on financial products or services.

John Taft, CEO of RBC Wealth Management U.S., said in the statement that “in order to deliver a seamless and integrated client experience, financial firms must continue to find ways to use the latest technologies to enhance relationships. It’s about enabling our financial advisors to reach clients where they’re at – which is in the digital space.”

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